Signature Wealth Management Partners LLC Invests $208,000 in Tesla, Inc. (NASDAQ:TSLA)

Signature Wealth Management Partners LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 516 shares of the electric vehicle producer’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BetterWealth LLC grew its stake in Tesla by 4.2% in the 4th quarter. BetterWealth LLC now owns 3,556 shares of the electric vehicle producer’s stock worth $1,436,000 after acquiring an additional 143 shares during the period. Southern Style Financial Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $931,000. Mayflower Financial Advisors LLC grew its position in shares of Tesla by 14.4% in the fourth quarter. Mayflower Financial Advisors LLC now owns 5,320 shares of the electric vehicle producer’s stock valued at $2,148,000 after purchasing an additional 671 shares during the period. Genesee Capital Advisors LLC increased its stake in Tesla by 115.9% in the fourth quarter. Genesee Capital Advisors LLC now owns 4,537 shares of the electric vehicle producer’s stock valued at $1,832,000 after purchasing an additional 2,436 shares during the last quarter. Finally, Denver Wealth Management Inc. lifted its position in Tesla by 5.0% during the fourth quarter. Denver Wealth Management Inc. now owns 929 shares of the electric vehicle producer’s stock worth $375,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on TSLA. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday. KGI Securities raised shares of Tesla from a “neutral” rating to an “outperform” rating and set a $276.00 price target for the company in a research report on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of Tesla from $125.00 to $135.00 and gave the company an “underweight” rating in a report on Thursday. Bank of America downgraded Tesla from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $400.00 to $490.00 in a report on Tuesday, January 7th. Finally, Oppenheimer reissued a “market perform” rating on shares of Tesla in a research report on Tuesday, October 8th. Nine investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $318.31.

Tesla Trading Up 1.1 %

TSLA opened at $404.60 on Friday. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37. The stock has a market capitalization of $1.30 trillion, a PE ratio of 198.33, a P/E/G ratio of 8.08 and a beta of 2.30. The firm’s fifty day moving average price is $404.22 and its 200 day moving average price is $299.05.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.08). Tesla had a return on equity of 10.54% and a net margin of 7.26%. As a group, research analysts expect that Tesla, Inc. will post 2.82 EPS for the current fiscal year.

Insider Activity

In other news, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $314.44, for a total transaction of $35,339,911.60. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $26,727,400. This represents a 56.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the completion of the sale, the director now owns 5,400 shares in the company, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 553,386 shares of company stock worth $196,305,796. 20.70% of the stock is currently owned by insiders.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.